ISLAMABAD, Pakistan: The Federal Cabinet has approved a 28-item agenda including inter-government framework agreement signed between governments of China and Pakistan for financing of Metro Rail Transit System on Orange Line Lahore, agreements with different states for cooperation in multiple fields and ban on import of sheesha and related substance.
The federal cabinet met on Friday in Islamabad with Prime Minister Muhammad Nawaz Sharif in chair which took up a heavy agenda with prevailing situation in Kashmir and Line of Control (LoC) at the top.
According to a PM House statement, the cabinet approved a ban on import of flavored and non-flavored Sheesha (tobacco and tobacco free) and related substance in compliance with Supreme Court’s order.
The federal cabinet approved Prime Minister’s Global Sustainable Development Goals Achievement Programme and proposed legislation for regulation of the Benami transactions.
It nodded to the exemption from levy of (Central Value Tax) CVT on immovable property transferred to and from the Third Pakistan International Sukuk Company Limited.
The cabinet approved memorandums of understanding (MoUs) and agreements between the educational institutions of Pakistan and Belarus, establishment of Urdu and Belarusian Language Centers between the National University of Modern Languages, Islamabad and Minsk State Linguistic University.
The agreement between Pakistan and Belarus on mutual recognition of educational certificates, and MoU for cooperation in the field of vocational education between both countries were approved.
Besides it gave ex-post facto approval for initiation of negotiations and for signing of agreement on air services and sphere of postal services were also approved.
The federal body also nodded to the initiation of negotiations for signing of MoU between the central banks of Pakistan and Belarus, memorandum of cooperation between Trade Development Authority of Pakistan and National Centre of Marketing and Price Study of Belarus besides granting in principle approval to amend the convention between two countries for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income.
The cabinet granted approval to a MoU between the Financial Monitoring Unit of Pakistan and the Financial Intelligence Unit of Japan in the field of anti-money laundering and combating financing of terrorism.
The MoUs between Trading Corporation of Pakistan (TCP) and PT KOPELINDO of Indonesia; Office of the Auditor General of Pakistan and the Turkish Court of Accounts on Auditing in Public Sector and between Small and Medium Enterprise Development Authority of Industries and Production Division of Pakistan and Small and Medium Enterprise Development Organization of Turkey were also approved by the cabinet.
The meeting approved to commence negotiations on Protocol on Bilateral Consultations between the foreign ministries of Pakistan and Romania, and constituency agreement for Board of Directors of Asian Infrastructure Investment Bank (AIIB).
The cabinet approved the signing of exchange of notes/loan agreement of Polio Eradication Project (Phase-II) between governments of Pakistan and Japan and signing of agreement on economic cooperation between Pakistan and Hungary.
The meeting granted ex-post facto approval to signing of Warsak Rehabilitation Project Financing Agreement between governments of Pakistan and Germany and MoU on cooperation in the field of small and medium enterprises development between Pakistan and Bulgaria.
Besides the federal cabinet also took note of the measures taken by the Finance Division to curb terrorism financing under the National Action Plan.
Moreover, the cabinet meeting confirmed the decisions taken by the Economic Coordination Committee of the cabinet on September 23 and 26, 2016; by Cabinet Committee on Energy on August 30, and September 9, this year.
It also confirmed the decisions by the Cabinet Committee for Disposal of Legislative Cases on August 31, this year and those by the Cabinet Committee on Privatization in its meetings on September 15, November 5 and November 11, 2014.
